Stock Groups

Zillow, Revance Therapeutics, Albertsons and more


Here are some top movers of the premarket.

Zillow (Z) – Zillow slid 6.4% in premarket trading, following a Bloomberg report that the company has temporarily stopped its home-buying service due to overwhelming demand.

Revance Therapeutics (RVNC) – Revance shares plunged 33.2% in the premarket after the Food and Drug Administration declined to approve an injectable treatment for facial lines, noting deficiencies following the FDA’s inspection of manufacturing facilities. In its response to FDA, the company stated that no other issues were mentioned by Revance. It is possible that the treatment will be used in place of Botox.

Walt Disney (DIS) – Disney lost 1.8% in the premarket after Barclays downgraded the stock to “equal weight” from “overweight,” citing concerns about a significant slowdown in growth for the Disney+ streaming service.

Albertsons (ACI) – The supermarket operator earned 64 cents per share for its latest quarter, beating the 45 cents a share consensus estimate. Wall Street predictions were also exceeded in revenue. Albertsons raised its quarterly dividend 20%, to 12 cents per shares. The shares rose 3.6% during premarket trading.

Netflix (NFLX) – Netflix estimates the value of its hit series “Squid Game” at nearly $900 million, according to an internal document seen by Bloomberg. Producing the series was only $21.4 million.

Philips (PHG) – Philips reported lower-than-expected sales for the third quarter, and the Dutch medical technology company lowered its sales and profit outlook for the full year. Philips will be taking heavy hits from the recall of its respirator, as well as a shortage worldwide in electronic components. The premarket saw its shares fall 2.1%

Stellantis (STLA) – Stellantis is forming a joint venture with South Korean battery maker LG Energy Solution to produce batteries and components for the North American market. The automaker will manufacture the batteries in its plants in Mexico, Canada, and the U.S. Premarket trading saw Stellantis share prices fall by 1%.

Goldman Sachs (GS) – Goldman received approval from China regulators to take full ownership of a local securities unit. Goldman has not disclosed the price it paid for 49% that it didn’t own in the business it had co-owned since 2004.

Biogen (BIIB) – The drugmaker said a late-stage trial of an experiment ALS treatment did not reach its primary goal, but noted favorable trends in other measures of progress toward treating the fatal disease. Premarket trading saw its shares fall by 1%.

Southwest Airlines (LUV) – Southwest asked a federal court to reject an effort by its pilots to block the airline from enforcing a Covid vaccine mandate. Pilots Union claimed that Southwest unilaterally changed its work rules without having to negotiate first.

NetApp (NTAP) – NetApp was downgraded to “sell” from “neutral” at Goldman Sachs, which cites the 2022 IT spending environment. The company also reduced its target price for NetApp’s stock from $85, to $81 per shares. Premarket trading saw NetApp share prices fall 2.2%